GoMetro secures £9 Million in Series A Funding led by Zenobē for fleet management innovation
South African tech company GoMetro has successfully concluded a £9 million Series A funding round, led by new investor Zenobē and with substantial participation from FutureGrowth Asset Managers.
Existing investors, including 4 Decades Capital, Hlayisani Capital, Tritech Global, Kalon Venture Partners, ESquared Ventures, and Greg Fury, also contributed to the round.
The new capital will serve as a catalyst for GoMetro’s ambitious mission of digitizing heavy-duty commercial transport operations and further advancing its state-of-the-art fleet management platform. The targeted markets for this development include the United Kingdom, EU, USA, and the company’s home ground, South Africa.
Fleet management in the bus and truck sector is fiercely competitive, with the risk of losing market share to tech-savvy competitors adopting innovative solutions. GoMetro, founded by Justin Coetzee, emphasizes the adoption of data-driven decision-making systems to empower operators, enhance fleet utilization, optimize resources, reduce risk, and boost customer satisfaction.
The landscape of heavy goods vehicle electrification is evolving rapidly, marked by the emergence of electric vehicle (EV) models in big bus and truck categories. However, the seamless integration of EVs into predominantly diesel fleets presents challenges related to business continuity and effective data management.
GoMetro’s cloud-based platform, GoMetro Bridge, addresses these challenges by managing the diverse data streams required for the successful electrification of buses and trucks. The platform’s features, driven by telematics data, support the transition to all-electric fleets, providing users with a comprehensive assessment of fit to expected EV adoption scenarios for fleet owners.
Zenobē Energy, a leading EV fleet and grid-scale battery storage specialist headquartered in the UK, is a strategic investor in this Series A funding. Zenobē, with a global footprint, currently supports over 1,000 electric buses, trucks, and commercial vehicles, with a commitment to reaching 4,000 electric vehicles on the road by 2026.
The collaboration between GoMetro and Zenobē aims to leverage the former’s innovative fleet management data and analytics to support the largest single electric bus fleet in the United Kingdom. Zenobē’s Electric Transport-as-a-Service (ETaaS) solution, encompassing on-board battery replacement, charging infrastructure, and sophisticated software for energy optimization, aligns seamlessly with GoMetro’s vision for the future of sustainable transportation.
Steven Meersman, Founder Director at Zenobē, expressed excitement about the Series A funding, emphasizing the alignment of GoMetro’s customer-driven approach with the vision for sustainable transportation. FutureGrowth, another lead investor, shares the enthusiasm, citing the alignment of their investment with the goal of fostering sustainable and technologically advanced solutions in the transport sector.
GoMetro, with plans to solidify operations in the UK, EU, and South Africa, aims to further expand to the US, Latin America, and Australia in the next 12 months. The company envisions establishing partnerships and collaborations with businesses, governments, and organizations committed to sustainable transportation solutions.
As governments worldwide intensify efforts to reduce carbon emissions, the collaboration between GoMetro and Zenobē emerges as a strategic response to the challenges of decarbonizing road transport. The Series A funding marks a key moment for GoMetro, propelling its research and development efforts and accelerating its product development in the era of EV adoption.
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